Hello Traders,
First I want to let you know that English is not my mother tongue, sorry if you Found any Gramatical Error etc.
and if you don’t understand please feel free to PM me or Reply me on this thread.
I will do my best to explain my experience and point of view step by step to you.
[B]First things First[/B]
if you new and want to jump into Foreign Currency trading. Please Noted This “Never Think That Forex World Would be Easy” Remember and always consider Forex is a business and to be honest there is no so called “EASY BUSINESS” in this world.
If you see a trader very good at made decision entry on forex market - this not because he talented on this things or suddenly very good at it. They spend his entire life and dedication to learn the behavior of each chart and Pattern. So “They Earn It” and no such things consistent in this business if you just get it from luck. at least that’s what i thougt.
[B]SeCondly[/B]
Forex is Just Like other business. If you want to put your -PRECIOUS- (you know what i’m talking about… of course it’s your money) “please be sure you know with whom you dealing with” I am talking about Forex. if you want to deal with Forex business, you are dealing with the most Liquid Trading all around the world. It is really Fast, It is Really Furious. and you are not dealing with just one or two people. You are dealing with the world. or maybe i could say “You VS The whole world”
Let me explain to you a glimpse of my life. I can consider myself as a Good trader. Maybe you think I’m ****y or something crazy. But don’t get me wrong - I do Trade business for my family tuition and life, if i’m not a Good trader than i would not able to give that to my family. But I always admitted that there are a lot of Greater Trader Than Me around the world. So i never closed my mind to keep study the world of trading.
What i do trade right now for living is commodity for Export import such as (Coconut Shell, Leather and other Raw Materials).
But Don’t Worry I Do trade Forex. and I trade it for Fun.
Faq (Frequently asked Question):
Why it is only for Fun?
- Since i don’t have enough time to sit at the table watching the chart.
Why I always need to be in front of monitor Often Before entering Forex Market? - a lot of my friend asking that question. Classic answer for classic Question : I’ts one of My precious Guys, I always analyse it deeply before i put my money into any kind of Investment.
Why you don’t trade Forex and Still Keeping your business? - Just a simple Math.Each Month I got 15-20% income from my capital in Commodity business and forex only Get Me Average 3-5% sometimes if i do really bad I can get nothing or -1%. (But Greater Trader Than me Could get 10% each month) i don’t know how they did it. so i guess i need to keep learning.
- Did Learning Forex give me something?
Yes. My business is export import. so i always dealing a lot with other currencies and it save me a lot. and i considering it as my profit by dealing FOREX with real Cash.
[B]Third[/B]
Please and Please Learn The Forex Basic before You Learn Forex Trading Platform Such as MT4 etc.
Learning Trading Platform and how to enter Forex Market First Will get you Busted Before you know the Basic.
How I know This? Simple guys because it’s me who did that :18:
Please don’t do the same mistakes as me. If you found this website before you trade. Than it should be great. you can Learn The basic From this website that suprisingly For FREE!! I entering seminar a lot guys, so i know Babypips teach you more than other seminar that i paid.
[B]4th[/B]
After learning the Basic Please make Virtual or false account first if you still in the learning process and don’t make real account first. If you able to survive in the Virtual account for a year than i do believe you will be able to survive in the Real Account. This process will make you learn faster. Why? because there is a research in my university that said “people will learn more if they become a spectator” or you did not mentally attached. but i give it back to you guys whether this is make sense or not. For me it is make sense.
[B]5th[/B]
the fact is you need strategy to entering the Forex market.
But Learn How to analyse Chart First. Because Strategy only works if you have certain rules and chart understanding And Strategy only works in certain pattern and time.
How To analyse Chart?
You can Learn From this Website too guys (isn’t it Great?)
you can learn from daily forex chart art that Big Pippin always provide you everyday.
Or you can check my Elliot Wave and Breakout Chart analysis Thread :
http://forums.babypips.com/free-forex-trading-systems/78727-mind-reader-trading-system.html
Just A Few Advice From me, "Don’t Ever Trust Everyone easily"
When i entering seminar or whatever Holy grail or Strategy or Robot they Teach me. I will not directly 100% Believe it. I always test it first about 3-6 months using my virtual trading account. Use my advice not in the forex world. but use it when you live in this world as well. by using it you will not easily get trciked by people or agent or marketing. Use your Logic and not your desire to guide your decision. It help me a lot in my business and Hope it help you a lot In your Life.
Thanks For Reading My Thread.
Hopefully you get something in return.
Have A nice Day Trader.